I (and a few others) found out there are dependencies on older versions of FireMonkey in Update 4. The specific issue I found blocks the Component Wizard (not that this is key piece of the Delphi IDE, but still...). it might depend on seomthing on my machine, or at the opposite because I don't have older versions. Here is the error:

I've reported this on QC as http://qc.embarcadero.com/wc/qcmain.aspx?d=104016. But I've seen a few other related issues.

Seems not everyone can reproduce this. If you installed Update 4, can you double check and offer me feedback? I'll forward to Embarcadero.

Update: Works on a Clean Machine; Made it Work on Mine

Checked on a clean virtual machine, and indeed it works fine. Now I have to figure out what's wrong in my configuration, maybe a registry setting..... (after some time) I figured out that if a create a new set of registry entries (with the -r command line flag) everything works fine. So it is something in my registry. Tried a compare of the registry trees, but it is quite messy. My assumption is I have some installed packages which refer to older FireMonkey libraries, getting the packages (probably from the package cache) is OK, when you really load them, they fail. The Component Wizard probably loads many, fails one some.

A Not Too Bad Solution

So in the end I deleted the BDS registry entry for Current User (under Software / Embarcadero / 9.0), got a new snapshot, will have to re-install a few components, but the IDE works fine and the bug is solved.